MicroStrategy put volume heavy and directionally bearish

Bearish flow noted in MicroStrategy with 5,969 puts trading, or 1.2x expected. Most active are Feb-23 135 puts and Feb-23 115 puts, with total volume in those strikes near 1,600 contracts. The Put/Call Ratio is 1.90, while ATM IV is up over 1 point on the day. Earnings are expected on February 2nd.